Growth

Growth of the Cruise Line Industry

The market talks to each other, influences each other.  So progress gets amplified.  The more people who have ocean cruised, the more who will tell others, the more who will want to take an ocean cruise too.

Worldwide, the cruise industry has an annual passenger compound annual growth rate of 7% from 1990 – 2018. Growth strategies to date have been driven by larger capacity new builds and ship diversification, more local ports, more destinations and new on-board/on-shore activities that match demands of consumers.  The industry is also expanding rapidly internationally.  These activities help increase penetration in a core North American market that still has growth potential.  Only 53% of the target North American market (or 24% of the whole U.S. population) have ever taken an ocean cruise.  All the cruise ships in the entire world filled at capacity all year long still only amount to less than ½ of the total number of visitors to Las Vegas

Shipbuilding Summary

A total of 6 new ships were added in 2014 with a total passenger capacity of 17,410.  From 2015 to 2016, 17 more new cruise ships will come online adding 41,162 to world wide passenger capacity, or 9.1%.  The ships from 2015 to 2016 will add $3.4 billion in annual revenue to the cruise industry.

2014 New Ships
LineShipDatePassengers
NCLNorwegian GetawayJan-144000
PrincessRegal PrincessMay-143600
Tui CruisesMein Schiff 3Jun-142500
Pearl Seas CruisesPearl MistJun-14210
Costa CruisesCosta DiademaOct-143000
Royal CaribbeanQuantum of the SeasNov-144100
Total17410
2015 New Ships
P&O CruisesP&O BritanniaFeb-153611
AIDA CruisesAIDAprimaMar-153250
Viking Ocean CruisesViking StarMay-15928
Tui CruisesMein Schiff 4May-152500
Royal CaribbeanAnthem of the SeasJun-154100
Compagnie du PonantUnnamedJun-15264
NCLNorwegian EscapeOct-154200
Total18853
2016 New Ships
Holland AmericaUnnamedFeb-162660
AIDA CruisesUnnamedMar-163250
Viking Ocean CruisesUnnamedMar-16928
Royal CaribbeanUnnamedAug-164180
Royal CaribbeanOasis IIIAug-165400
Regent Seven SeasExplorerAug-16738
Viking Ocean CruisesUnnamedOct-16928
Seabourn Cruise LineUnnamedOct-16225
CarnivalVistaOct-164000
Clive PalmerTitanic IINov-161680
Total22309

Sources: Cruise Market Watch’s proprietary Cruise Pulse™ and Port Pulse™ databases, Royal Caribbean Cruises, Ltd., Carnival Corporation and plc, NCL Corporation Ltd., Cruise Lines International Association (CLIA), The Florida-Caribbean Cruise Association (FCCA) and DVB Bank.